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• Blog post / June 13, 2016

  • Banks
  • Libya

  Libya’s case against Goldman Sachs shines spotlight on how major banks do business with corrupt regimes

  Libya’s case against Goldman Sachs shines spotlight on how major banks do business with corrupt regimes

  
• Press Release / Aug. 24, 2011

  • Libya

  Libya’s oil must now be used to drive development and foster peace

  Unfrozen Libyan assets must be managed in an open and transparent way Read how Libya’s assets can be used to foster peace and drive development With Colonel Gaddafi’s 42 year dictatorship apparently drawing to a close, the Libyan National Transitional Council (NTC) and supporting countries must put measures in place to guard against a Libyan “oil grab” and ensure the Libyan people benefit fully from the exploitation of Libya’s natural resources, said Global Witness today.
• "In The Press" Article / Nov. 24, 2011

  • Libya

  Global Witness on banks and corruption in the New York Times

  This op-ed appeared in the International Herald Tribune The Stolen Money Trail By Anthea Lawson Earlier this month, Swiss bank regulators found that four Swiss banks had not done enough to identify dictators’ assets they held. Earlier this year, Britain’s Financial Services Authority investigation into London banks found that three quarters of them were not doing enough to verify the sources of some customers’ wealth.
• March 9, 2012

  • Libya

  £10m house in expensive London suburb recovered by Libya

  Global Witness welcomes today's successful recovery by Libya of a £10 million London house, previously belonging to Colonel Gaddafi’s son, Saadi Gaddafi. The High Court in London ruled that the property, in the up-market London suburb of Hampstead, rightfully belongs to the Libyan state as it had been purchased with diverted Libyan state funds.
• Press Release / April 13, 2012

  • Oil, Gas & Mining
  • Libya

  Leaked Gaddafi-era documents expose the need for urgent oil reforms

  Global Witness has obtained Gaddafi-era documents that detail the mismanagement of millions of dollars of Libyan oil revenues and highlight murky practices by Libya's state-owned National Oil Company (NOC).   The revelations, contained in a report published in its entirety today by Global Witness titled “An Annual Report by the Control Board for 2010” (the “Report”), and in a series of letters written by NOC employees, outline complaints against the NOC that include:
• Report / April 13, 2012

  • Oil, Gas & Mining
  • Libya

  A blueprint for reform: lessons from past mismanagement and murky practice in Libya’s oil sector

  Global Witness has obtained Gaddafi-era documents that detail the mismanagement of millions of dollars of Libyan oil revenues and highlight murky practices by Libya's state-owned National Oil Company (NOC). These documents provide a blueprint for the current and future Libyan Government of how best to implement the reforms necessary to prevent mismanagement and shoddy dealings in Libya's oil sector in the future.
• Press Release / March 20, 2011

  • Libya

  Governments should name banks that took corrupt money from Gaddafi, Mubarak and Ben Ali

  Read BBC Business Editor Robert Peston's blog on this call to governments.
• Press Release / May 26, 2011

  • Libya

  HSBC and Goldman Sachs held $335m of Libyan state oil money

  Update: Global Witness publishes the Libyan Investment Authority financial position as of September 2010 Read BBC Business Editor Robert Peston's analysis of this story Listen to Global Witness discuss this investigation on the BBC World Service
• Press Release / June 30, 2011

  • Libya

  New leaked document reveals HSBC held $1.4bn of Libyan funds

  Download - Libyan Investment Authority, as of September 2010 Download - Libyan Investment Authority, as of June 2010
• Press Release / Aug. 31, 2011

  • Libya

  Oil transparency must underpin negotiations over Libya’s future – Global Witness

  Transparency of Libya’s oil wealth must be a key priority of Thursday’s negotiations over the country’s future, said Global Witness today. The meeting, which is to be co-chaired by UK Prime Minister David Cameron and France’s President, Nicholas Sarkozy, could mark a crucial step along the path to future peace and prosperity in Libya. With the UN in the process of ‘unfreezing’ $1.5bn of Libyan funds to the NTC, and with companies queuing up to do business in Libya, how the NTC and their partners manage Libya’s finances will set a precedent for decades to come.